In an economy with a population of 100 million persons, 44 million hold civilian jobs and 6 million are not working but are looking for jobs. The unemployment rate is
A) 6.0 percent.
B) 13.6 percent.
C) 7.3 percent.
D) 9.4 percent.
E) 12.0 percent.
E
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting downward C. Aggregate demand shifting rightward D. Aggregate demand shifting leftward
The problem of scarcity
A. applies to market-based economies. B. applies to centrally planned economies. C. applies only to the economies of less-developed countries. D. applies to all of these economies, not just one type.
Steve has two goods he can spend his income on, skiing and skating, and his marginal utilities from each are in the table above. The price of each unit of skiing is $10 and the price of each unit of skating is $10. Steve has $40 to spend
What quantities of skiing and ice skating will Steve consume to maximize his utility? A) 0 units of skiing and 4 units of skating B) 2 units of skiing and 2 units of skating C) 4 units of skiing and 0 units of skating D) 2 units of skiing and 4 units of skating
Trace through the Keynesian cause-and-effect sequence. An increase in the money supply will cause the interest rate to
a. fall, boosting investment and shifting the AD curve to the right, leading to an increase in real GDP b. fall, boosting investment and shifting the AD curve to the right, leading to a decrease in real GDP c. rise, cutting investment and shifting the AD curve to the right, leading to an increase in real GDP d. rise, boosting investment and shifting the AD curve to the left, leading to an increase in real GDP e. fall, cutting investment and shifting the AD curve to the left, leading to a decrease in real GDP